DBRS puts EnerCare Solutions on developing review

DBRS said it placed EnerCare Solutions Inc.’s issuer rating and senior notes rating of BBB under review with developing implications.

The rating action follows the announcement that the company’s 100% owner, EnerCare Inc., has entered into an arrangement agreement with Brookfield Infrastructure Partners LP and its institutional partners to be acquired for C$4.3 billion, including the assumption of debt.

The review with developing implications reflects the uncertainty of the corporate structure of EnerCare following the acquisition. It also incorporates uncertainty over the future strategic direction and financial management of the company under Brookfield, DBRS said in a news release.

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